Shares of Akebia Therapeutics Inc. (NASDAQ:AKBA) saw unusually-strong trading volume on Monday . Approximately 174,091 shares changed hands during trading, a decline of 3% from the previous session’s volume of 180,162 shares.The stock last traded at $9.01 and had previously closed at $8.98.

Several research analysts recently issued reports on AKBA shares. HC Wainwright reaffirmed a “buy” rating on shares of Akebia Therapeutics in a research report on Tuesday, August 23rd. Zacks Investment Research raised Akebia Therapeutics from a “sell” rating to a “hold” rating in a research report on Monday, July 18th. Credit Suisse Group AG reaffirmed a “hold” rating and set a $8.00 target price on shares of Akebia Therapeutics in a research report on Tuesday, August 9th. Finally, JMP Securities reaffirmed a “market perform” rating and set a $16.00 target price on shares of Akebia Therapeutics in a research report on Thursday, August 11th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and five have issued a buy rating to the company. Akebia Therapeutics currently has an average rating of “Buy” and a consensus price target of $15.57.

The firm’s market capitalization is $169.18 million. The firm has a 50-day moving average of $8.35 and a 200-day moving average of $8.58.

Akebia Therapeutics (NASDAQ:AKBA) last released its quarterly earnings results on Monday, August 8th. The biopharmaceutical company reported ($0.95) EPS for the quarter, missing analysts’ consensus estimates of ($0.57) by $0.38. On average, equities research analysts predict that Akebia Therapeutics Inc. will post ($3.73) earnings per share for the current year.

Hedge funds and other institutional investors have recently made changes to their positions in the company. First Manhattan Co. raised its position in shares of Akebia Therapeutics by 135.0% in the first quarter. First Manhattan Co. now owns 1,865,800 shares of the biopharmaceutical company’s stock valued at $16,810,000 after buying an additional 1,071,996 shares during the period. BlackRock Fund Advisors raised its position in shares of Akebia Therapeutics by 8.2% in the second quarter. BlackRock Fund Advisors now owns 1,408,498 shares of the biopharmaceutical company’s stock valued at $10,536,000 after buying an additional 107,049 shares during the period. Nantahala Capital Management LLC raised its position in shares of Akebia Therapeutics by 507.8% in the first quarter. Nantahala Capital Management LLC now owns 1,347,326 shares of the biopharmaceutical company’s stock valued at $12,139,000 after buying an additional 1,125,652 shares during the period. Vanguard Group Inc. raised its position in shares of Akebia Therapeutics by 6.6% in the second quarter. Vanguard Group Inc. now owns 1,085,393 shares of the biopharmaceutical company’s stock valued at $8,118,000 after buying an additional 67,246 shares during the period. Finally, Perceptive Advisors LLC raised its position in shares of Akebia Therapeutics by 3.3% in the second quarter. Perceptive Advisors LLC now owns 893,600 shares of the biopharmaceutical company’s stock valued at $6,684,000 after buying an additional 28,600 shares during the period. Institutional investors own 51.58% of the company’s stock.

About Akebia Therapeutics

Akebia Therapeutics, Inc is a biopharmaceutical company. The Company is focused on the development of therapeutics based on hypoxia inducible factor (HIF) biology, and the commercialization of these products for patients with serious medical needs. The Company’s segment is the business of developing and commercializing proprietary therapeutics based on HIF biology.

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